Illustrates the important areas of managerial economics
Illustrates the important areas of managerial economics as a tool for decision making?
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The important areas of decision making are as follows:
1. Choice of product. 2. Selection of appropriate product mix. 3. Selection of way of production. 4. Product line decision. 5. Determination of quantity and price. 6. Decision upon promotional strategy. 7. Optimum input combination. 8. Distribution of resources. 9. Replacement decision. 10. Buy or Make decision. 11. Shut down decision. 12. Decision upon import and export. 13. Location decision. 14. Capital budgeting.
Where managerial economics treat as a tool? Answer: Managerial economics is like a tool for decision making and forward planning.
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The knowledge gained while an Apple employee learns a specialized technique on an iPod assembly line is an illustration of: (w) comparative technological advantage. (x) specific training. (y) on-the-job leveraging. (z) general training. Q : Demad elacticty demand function is: QY demand function is: QY = -8,000 - 5,000PY + 192A + 120I + 2,000PX (6,000) (1,000) (120) (80) (800) R2 = 91% Here QY is quantity (measured in units) of Product Y demanded in the current period, A is hundreds of dollars of advertising ($00), I is thousands of dollars of disposable income per ca
demand function is: QY = -8,000 - 5,000PY + 192A + 120I + 2,000PX (6,000) (1,000) (120) (80) (800) R2 = 91% Here QY is quantity (measured in units) of Product Y demanded in the current period, A is hundreds of dollars of advertising ($00), I is thousands of dollars of disposable income per ca
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When, for a specified output level, an absolute or perfectly competitive firm's price is less in that case its average variable cost, so the firm: w) is earning a profit. x) must shut down. y) must increase output. z) must increase price. Q : Illustrates the pricing policies briefly Illustrates the pricing policies briefly?
Illustrates the pricing policies briefly?
When all labor were fundamentally very similar then, in long run equilibrium for purely competitive labor markets as: (w) money wages will be equal for all workers. (x) the net advantages of working in various occupations will be equa
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